Sec.44aa
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2014
sir/mam,
in sec44AA it is specified that for specified profession maintenance of accounts is necessary , if the gross receipt in all the 3 preceding years exceed 150000 ,what will happen in case if profession was started 2 years ago
in sec44AA it is specified that for specified profession maintenance of accounts is necessary , if the gross receipt in all the 3 preceding years exceed 150000 ,what will happen in case if profession was started 2 years ago
29 April 2014
In case Profession is newly set up then gross receipt of that in the profession for that year is taken into consideration.So in yiur case Receipt of Rs 150,000 in the two year immediately prceeding PY will be taken into consideration
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Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2014
bt mam it means for the first years it is always necessary to maintain the books of accounts
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